The American rescue plan is a healthcare reform initiative being pushed by President Biden and his staff. They are hoping to make it a little more affordable for those who are uninsured or have not worked for a while. But how exactly does this plan work? Let us look.
First, you might want to understand what the rescue plan is all about. The core of it is that any individual who is not covered under some type of preexisting condition will need to purchase insurance. To get this quote, you can visit an online website and enter your name, address, and social security number. After doing so, you should be able to get a quote quickly.
So, how does the American rescue plan might slash insurance premiums for those without insurance? For starters, you might have to change your deductibles. These deductibles, in conjunction with the increased coverage, will reduce the amount of money that you pay out of pocket every year. While this may not seem like much, it adds up over time, and quite soon, you may find yourself paying less for your medical insurance than what you were paying before.
Secondly, the plan encourages hospitals to expand their patient populations. The government has allocated an extra funding pool for hospitals, which means that they are more likely to accept patients, regardless of their economic status. This will make for better healthcare overall, and thus, will ensure that people who otherwise would not have gotten it can get it.
But perhaps the best part of it all is the incentives that come along with it. Those who stay without insurance might find that they are subject to hefty fines. The fines will depend on the individual state, but most likely, you will be subject to a fine if you do not have insurance, and you might be subjected to jail time if you try to go without it. Given all these incentives, the number of people skipping health care costs will be drastically reduced. That is how the American rescue plan might slash health care costs for everyone.
Though there are many parts of the American rescue plan that may cause a slight decrease in health care costs, it is still a positive one. By doing so, the United States is doing its best to ensure that everyone has access to good health care. There is hope, though, that health care costs will still go up in the future. The federal government may find itself at wits end when the time comes, but if things get any worse, it will always have a backup plan in place.